The New Top Easy Access Savings Discussion Area

10_66

Chip
I've not used Chip before and, before moving some money to them, was just looking at the time scales involved.  I know it says that "it may take up to 3 business days for your funds to arrive at ClearBank depending on how you deposit", but is that if you use debit card as I would be using Faster Payment?

ToastLady

10_66 said:

Chip
I've not used Chip before and, before moving some money to them, was just looking at the time scales involved.  I know it says that "it may take up to 3 business days for your funds to arrive at ClearBank depending on how you deposit", but is that if you use debit card as I would be using Faster Payment?

Faster payments are quick for me when funding from my Halifax account to Chip. Never used debit card to fund, but suspect that will take longer

BigBlueSky

europa said:

BigBlueSky said:

europa said:

Unfortunately, Ulster Loyalty Saver drops to 4.75% (from 5.2) today. That said, i can't see anything better thats truly instant access!

Trading 212 ? 5.1% and withdrawals now are in a matter of minutes.  Free £10 minimum share too when you sign up (up to maximum of £100)

ive been looking into this as i was concerned how the interest is taxed. however, it does appear the interest is taxed in the same way as with a bank. see post #82 here:

https://community.trading212.com/t/now-available-even-higher-interest-on-uninvested-cash/65968/82?page=4

It is indeed just interest paid on your cash balance.  Taxable in the same way as any other savings account.

10_66

ToastLady said:

10_66 said:

Chip
I've not used Chip before and, before moving some money to them, was just looking at the time scales involved.  I know it says that "it may take up to 3 business days for your funds to arrive at ClearBank depending on how you deposit", but is that if you use debit card as I would be using Faster Payment?

Faster payments are quick for me when funding from my Halifax account to Chip. Never used debit card to fund, but suspect that will take longer

Are withdrawals same day too, please?

Edit:  I've just remembered that the 5% account is limited to 3 w/ds, so you may not have made a withdrawal from them yet.

pokemaster

Atom

Rewards Instant Saver -
- 4.85% (as long as no withdrawals)
- 3.25% for rest of the month when withdrawal.

Reverts back to 4.85% next month until withdrawal

@soulsaver

ToastLady

10_66 said:

ToastLady said:

10_66 said:

Chip
I've not used Chip before and, before moving some money to them, was just looking at the time scales involved.  I know it says that "it may take up to 3 business days for your funds to arrive at ClearBank depending on how you deposit", but is that if you use debit card as I would be using Faster Payment?

Faster payments are quick for me when funding from my Halifax account to Chip. Never used debit card to fund, but suspect that will take longer

Are withdrawals same day too, please?

Edit:  I've just remembered that the 5% account is limited to 3 w/ds, so you may not have made a withdrawal from them yet.

I haven't made any withdrawals yet from the 5% account, so can't answer that for sure but would expect so. I briefly used the other easy access account before I got better rate elsewhere and withdrawals were same day, and pretty quick from memory.

allegro120

ToastLady said:

10_66 said:

ToastLady said:

10_66 said:

Chip
I've not used Chip before and, before moving some money to them, was just looking at the time scales involved.  I know it says that "it may take up to 3 business days for your funds to arrive at ClearBank depending on how you deposit", but is that if you use debit card as I would be using Faster Payment?

Faster payments are quick for me when funding from my Halifax account to Chip. Never used debit card to fund, but suspect that will take longer

Are withdrawals same day too, please?

Edit:  I've just remembered that the 5% account is limited to 3 w/ds, so you may not have made a withdrawal from them yet.

I haven't made any withdrawals yet from the 5% account, so can't answer that for sure but would expect so. I briefly used the other easy access account before I got better rate elsewhere and withdrawals were same day, and pretty quick from memory.

Yes, withdrawals from "Instant Access" were instant.  So in theory withdrawals from "Easy Access" should be instant too.  

crumpet_man

BigBlueSky said:

europa said:

Unfortunately, Ulster Loyalty Saver drops to 4.75% (from 5.2) today. That said, i can't see anything better thats truly instant access!

Trading 212 ? 5.1% and withdrawals now are in a matter of minutes.  Free £10 minimum share too when you sign up (up to maximum of £100)

Is Trading 212 classed as an Easy Access saver given that some of your savings can/will be invested in QMMFs and that part of it is not protected by FSCS?

SickGroove

pokemaster said:

Atom

Rewards Instant Saver -
- 4.85% (as long as no withdrawals)
- 3.25% for rest of the month when withdrawal.

Reverts back to 4.85% next month until withdrawal

@soulsaver

Is there a monthly interest option that can be paid away? If so does that count as a withdrawal?

europa

BigBlueSky said:

europa said:

Unfortunately, Ulster Loyalty Saver drops to 4.75% (from 5.2) today. That said, i can't see anything better thats truly instant access!

Trading 212 ? 5.1% and withdrawals now are in a matter of minutes.  Free £10 minimum share too when you sign up (up to maximum of £100)

Unfortunately, withdrawals are not instant. After making a test transfer, i got a message saying it will take up to three working days! That said, the funds have now come thru (after about ten minutes), but i won't be able to rely on this for instant access to my funds.